Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Development Cabinet Secretary Simon Chelugui yesterday, presided over the inauguration of the Uwezo Fund Oversight Board, marking a significant milestone in the government’s commitment to empower women, youth, and people with disabilities through MSMEs.
Marginalized groups will now benefit from financial inclusivity and entrepreneurial training offered by Uwezo Fund.
“We expect the board to diligently steer the fund to greater heights by providing guidance. Your mandate is grounded in the principles on the Bottom-Up-Economic Transformation Agenda (BETA),where the objectives and purposes of the Fund are established to enhance financial inclusion and promotion of MSMEs for the vulnerable,” said Chelugui.
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The CS urged members to partner with other stakeholders in enhancing the reach and impact of the Fund as well as monitor and evaluate the performance of the Fund to ensure it meets its objectives.
“The board will be responsible for developing loan products, promoting capacity building and training, supporting innovation and entrepreneurship, promoting local content and products and reducing bureaucracy, this will empower the groups to seize opportunities in the building and construction sector as well as value chains within dairy, leather, edible oils and cotton industries,” he said.
Chelugui called upon the board to complete the digitalization process immediately and challenged it to align its documents to the MTP IV the fifth generation strategic plans guidelines ,and the Government Development Agenda realization of the overall government objective in the MSME sector.
Chairperson of the Uwezo Fund Oversight Board, Ann Njuguna, emphasized the organization’s commitment to forging strategic partnerships for the long haul. She outlined a vision to enhance the efficiency and effectiveness of the Fund’s processes and programmes through automation, signaling a significant step towards modernization.
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Njuguna stressed the importance of working closely with the Ministry to serve the people of Kenya with dedication and integrity. “This collaborative approach is seen as crucial in achieving the Fund’s goals and making a positive impact on communities across the country,” said Njuguna.
The chair also expressed a clear objective: to shift the narrative surrounding job creation in Kenya. “Rather than simply seeking employment opportunities, the Uwezo Fund is determined to empower individuals to become job creators themselves.
Since the inception of the Fund, a total of KES 7.4 billion has benefited over a million individuals cross 290 constituencies.
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